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Novo Nordisk faces Eli Lilly ad lawsuit as shares slide
The lawsuit centers on Lilly’s weight loss drug marketing claims, while the market response has left Novo down sharply over the past year.
Novo Nordisk A/S is at the center of fresh media attention after it sued Eli Lilly over alleged misleading advertisements for Lilly’s weight loss drug. Novo claims Lilly used outdated trials and misleading information about dosing to support its efficacy messaging against Novo’s own products, according to Yahoo Finance.
Lilly responded that its studies were conducted through a robust process and that it plans to defend itself “vigorously” against Novo’s claims. The dispute pits the two drugmakers against each other in court while both compete in the broader GLP-1 weight loss market, as described by Yahoo Finance.
CNBC host Jim Cramer, a longtime fan of Lilly, said the focus should be on competing in the market rather than in legal proceedings. He praised Lilly’s manufacturing footprint and broader drug portfolio beyond weight loss drugs, and said the company’s results and momentum have been coming through, the outlet noted.
Yahoo Finance also pointed to market performance, saying Novo’s shares are down 31% over the past year, and down 6.9% year to date, as of the time of the story.